[Form 4] Sportsman's Warehouse Holdings, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Jennifer Fall Jung, CFO and Secretary of Sportsman's Warehouse Holdings, Inc. (SPWH), was granted 125,000 restricted stock units on August 18, 2025. The filing reports the award as a non‑cash grant (price reported as $0) and shows the RSUs are scheduled to vest in three equal installments on August 18, 2026, August 18, 2027 and August 18, 2028, subject to continued employment. Each RSU represents the right to receive one share of the issuer's common stock. Following the grant, the reporting person beneficially owns 125,000 RSUs. The form is signed by the reporting person on August 19, 2025.

Positive

• Grant of 125,000 RSUs provides clear alignment between executive compensation and shareholder value via equity incentives.
• Three‑year vesting schedule (2026, 2027, 2028) supports retention of the CFO/Secretary over multiple years.
• Each RSU converts to one share, making conversion mechanics transparent for investors.
• Timely disclosure: Form 4 was signed on August 19, 2025, consistent with reporting requirements.

Negative

• None.

Insights

Financial Analyst

TL;DR: A meaningful executive equity grant aligns management with shareholder outcomes via multi‑year vesting, representing potential future share issuance.

The 125,000 restricted stock unit grant to the CFO/Secretary is a sizable compensation action that vests over three years, which ties retention and performance incentives to future stock value. The grant is non‑cash at issuance (price $0) and converts one‑for‑one into common shares upon vesting, which will increase outstanding shares only as units vest and convert. This is a routine but material insider award given the absolute size reported; investors should note the multi‑year vesting schedule when assessing potential dilution timing.

Corporate Governance Expert

TL;DR: Standard executive equity award with time‑based vesting; reporting and disclosure appear complete and timely.

The Form 4 discloses the grant, vesting schedule, beneficial ownership amount, and the reporting person's role (CFO and Secretary). The disclosure indicates the award is subject to continued employment and provides clear conversion mechanics (one RSU per share). The filing was signed the day after the transaction date, consistent with Section 16 timing expectations. No additional contractual plan or performance conditions are disclosed in this form.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Fall Jung Jennifer

(Last) (First) (Middle)

1475 WEST 9000 SOUTH SUITE A

(Street)

WEST JORDAN UT 84088

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SPORTSMAN'S WAREHOUSE HOLDINGS, INC. [ SPWH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CFO AND SECRETARY

3. Date of Earliest Transaction (Month/Day/Year)
08/18/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/18/2025		A		125,000(1)	A	$0	125,000(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Reflects the grant of restricted stock units by the Issuer to the Reporting Person on August 18, 2025. The restricted stock units are scheduled to vest in three equal installments on August 18, 2026, August 18, 2027 and August 18, 2028, subject to the Reporting Person's continued employment with the Issuer. Each restricted stock unit represents the right to receive one share of the Issuer's common stock.

2. Includes 125,000 restricted stock units scheduled to vest in three equal installments on August 18, 2026, August 18, 2027 and August 18, 2028, subject to the Reporting Person's continued employment with the Issuer. Each restricted stock unit represents the right to receive one share of the Issuer's common stock.

	/s/ Jennifer Fall Jung	08/19/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did SPWH insider Jennifer Fall Jung receive on August 18, 2025?

The filing shows a grant of 125,000 restricted stock units (RSUs) to Jennifer Fall Jung on August 18, 2025.

When do the RSUs granted to the SPWH CFO vest?

The RSUs are scheduled to vest in three equal installments on August 18, 2026, August 18, 2027 and August 18, 2028, subject to continued employment.

How many shares will each RSU convert into for SPWH?

Each restricted stock unit represents the right to receive one share of Sportsman's Warehouse common stock upon vesting.

What is the reported price for the RSU award in the Form 4?

The transaction is reported with a price of $0, reflecting a non‑cash equity grant (restricted stock units).

How many RSUs does the reporting person beneficially own following the transaction?

The Form 4 reports 125,000 RSUs beneficially owned by the reporting person following the grant.